What is the practical purpose of reconciling in GNUCash?

[Gour]

On Mon, 12 Dec 2016 15:39:50 +0000
Colin Law <clanlaw at gmail.com> wrote:

> And to find unexpected transactions on your back account.

GNUCash helped me to discover one of the (my) bank's usual practice -
when they are charging debit card for the service provided by my
friend...first he does pre-authorization of the card to check if there
is enough money on the card before start working on the 'order' and then
only upon completion does he process the payment...

Considering that several of my friends are occasionaly using his
services, usually I pay for the service and them they reimburse me.

However, it happened that the payment for the service was done by the
end of the month, I recorded it in GC and then reconciled account with
the bank statement only to discover later when doing another reconcile
that things are not adjusted - the reason was/is that the bank process
the payment (not pre-authorization), but after few days takes advantage
of exchange rates and redoes transaction which 'spoils' reconcillation.


Sincerely,
Gour

-- 
The senses, the mind and the intelligence are the sitting places
of this lust. Through them lust covers the real knowledge of the
living entity and bewilders him.